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  1. 1. Presented By: Ishudeep Kaur MBA-2 (Finance) PUNJAB COLLEGE OF TECHNICAL EDUCATION 1 Weekly NEWS (25 Oct-31 Oct 2010)
  2. 2. SEBI raises limit for retail investors to Rs 2 lakh for public issues Market regulator SEBI today doubled the investment limit for retail investors in an initial share sale offer to Rs 2 lakh. The board approved categorising all investors putting in up to Rs 2 lakh to buy shares through a public offer as retail investors, Sebi Chief C B Bhave told reporters here. This will cut the numerous applications investors sometimes make in the name of relatives to get more shares.
  3. 3. China becomes Volvo's third largest market: Report China has become the third largest market for Volvo, which was recently acquired by Chinese car maker Geely, state media reported on Saturday. Alexander Klose, head of Volvo Cars China, made the comments at a trade show in the northern city of Tianjin, according to the official Xinhua news agency. G20 seals IMF power shift; China, India to wield more power India will improve its rank by three notches to the 8th position in IMF, as the group of 20 nations (G20) today decided to increase the quota of emerging markets in the multi-lateral lending agency by over 6%.
  4. 4. China to reduce trade deficit, gas emissions China's leaders are promising to narrow its huge trade surplus and curb surging emissions of climate- changing greenhouse gases in an ambitious five- year plan to make its economy cleaner and more high-tech. Nissan to recall 2 million cars due to faulty engine system Japan's Nissan Motor said Thursday it was recalling more than 2.1 million cars globally due to a faulty engine control system.
  5. 5. Indian firm launches an alternative to BlackBerry services An Indian firm today launched a software service saying that it provides an alternative to the controversial BlackBerry services that have run into rough weather with the government over interception of its data. The new service, called 'Bharat Berry', was on testing mode for the past few days and the state Chief Minister Ashok Gehlot formally launched it here today. The Bharat Berry software can be purchased online and downloaded from the website. Bharat Berry works through a mix of its very advanced email server known as XGeNPlus and open source technologies.
  6. 6. US, Russia joins Asia club in a blow to China: Analyst The United States and Russia will be formally welcomed into a 16-nation Asian bloc on Saturday, in what analysts say is a blow to Chinese attempts to diminish US influence in the region. US Secretary of State Hillary Clinton and Russian Foreign Minister Sergei Lavrov will be invited to join the East Asia Summit (EAS) when the group holds its annual summit in Hanoi. Their entry into the EAS, which elevates its diplomatic heft, comes despite Chinese attempts to promote another grouping, which does not include the US, as the region's premier forum for regional cooperation.
  7. 7. GlaxoSmithKline to pay $750 million in adulterated drugs case. GlaxoSmithKline has agreed to pay $750 million and plead guilty to manufacturing and distributing adulterated drugs from a now closed plant in Puerto Rico, the US justice department said on Tuesday. Of the $750 million, Glaxo will pay $600 million to settle allegations that, because the drugs were adulterated, false claims for reimbursement were submitted to government healthcare programs. Sarkozy says he will sign retirement bill French President Nicolas Sarkozy says he will sign a bill raising France's retirement age to 62 despite the massive protests and strikes it has sparked.
  8. 8. Oil falls on stronger dollar, US supply jump. Oil fell on Wednesday as the dollar strengthened and after an industry report showed a bigger-than- expected gain in US crude inventories last week. US crude for December fell 36 cents to $82.19 a barrel at 0258 GMT, more than $2 from a five-month high of $84.43 reached on Oct. 7. US economy grows 2% in July-September The economy grew slightly faster last summer as Americans spent a little more freely. Yet it remains too weak to reduce high unemployment just as Democrats face deep losses in Tuesday's elections. The Commerce Department said on Friday that the US economy expanded at a 2% annual rate in the July- September quarter. It marked an improvement from the feeble 1.7% growth in the April-June quarter.
  9. 9. Walt Disney, Virgin and Google amongst top 10 dream employers The inaugural Dream Employers survey, run by Red Balloon and In sync asked people in Australia and New Zealand to nominate their dream employer. The top 10 are: 1. Google 2. Virgin 3. Self- employment 4. Apple 5. Qantas 6. Walt Disney 7. OMD 8. Sydney Water 9. Getaway 10. Coca-Cola . OMD is a global communications organization, which has been named the "most creative media agency in the world" for the fifth year in a row, reports the Sydney Morning Herald. 74 per cent of respondents saying they love the idea of working for themselves. The reasons - yearning for greater flexibility, the thrill of working in an area of personal interest and the potential to earn more money.